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Czech Airlines – Profitable in 2001

CSA<.>, Czech Airlines<.> concluded the year 2001 with a profit of 7.834 million US dollars, according…

CSA<.>, Czech Airlines<.> concluded the year 2001 with a profit of 7.834 million US dollars, according to International Accounting Standards. This amount of profit places Czech Airlines among the ranks of those few European airlines that did not show a loss in 2001 and who have been relatively successful in comparison to competitors on the international market.



Economic results audited by Ernst&Young confirm a relatively successful Czech Airlines economy in 2001, when the company showed a profit of 7.834 million US dollars. The economic result was directly influenced by the tragic events of September 11. CSA achieved black numbers thanks to intensive growth in the number of transported passengers, but also due to a low number of CSA flights to North America, as well as strict economic measures adopted by the company`s management, explains Dan Plovajko, CSA Director Public Relations.



Circumstances influencing CSA economy in 2001



The development of the CSA economy and the total economic result were influenced not only by external circumstances but also by internal measures adopted by CSA management aimed at lowering costs to the maximum extent possible.



External circumstances with a negative impact:


  • terrorist attacks on the USA, and the following crisis in the air transport industry

  • a drop in economic growth in the USA Europe

  • strong CZK against USD and EUR


External circumstances with a positive impact:


  • continued growth of the Czech economy

  • growth of tourism


Internal circumstances with a positive impact:


  • SkyTeam alliance membership

  • low number of flights to North America

  • economic measures adopted by the Board of Directors and the CSA management.

Theodore Koumelis
Co-Founder & Managing Director - Travel Media Applications | Website

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

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